President Donald Trump has announced the U.S. will impose a 30% tariff on goods from the European Union and Mexico, effective August 1. The announcement was made via letters to European Commission President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum, which Trump posted on his social media platform, Truth Social. The EU collectively sells more to the U.S. than any single country. Total U.S. goods imports from the EU topped $553 billion in 2022, while imports from Mexico were approximately $454.8 billion.
Trump stated that if the EU or Mexico retaliate with higher tariffs, the U.S. will add that increased percentage on top of the 30% tariff already imposed. He also mentioned that tariffs on goods from the EU could be avoided if the bloc, or companies within it, decide to build or manufacture products within the United States. Trump’s administration views these tariffs as a necessary measure to establish a more “reciprocal” global trade landscape.
Von der Leyen expressed concerns that imposing the tariffs would disrupt essential transatlantic supply chains, harming businesses, consumers, and patients on both sides. She affirmed the EU’s readiness to continue working towards an agreement by August 1, but also stated the EU will take necessary steps to safeguard its interests, including proportionate countermeasures if required. Mexico’s government said they were informed of the new tariffs during a meeting with U.S. trade officials and expressed disagreement and unfair treatment.
